Olam International, the commodities trader part-owned by Temasek Holdings, plans to close a US$1.25 billion ($1.5 billion) loan as early as today, according to a person familiar with the matter.
The facility, split about equally into three- and five-year parts, attracted some 16 banks in syndication bringing the total lending group to 31, the person said, asking not to be identified as details are private.
The facility, split about equally into three- and five-year parts, attracted some 16 banks in syndication bringing the total lending group to 31, the person said, asking not to be identified as details are private.
The company is offering margin and fees for a so-called all-in payment of 364 basis points more than the London interbank offered rate on the five-year portion and an all-in rate of 258 basis points more than Libor on the three-year facility, another person familiar with the matter said June 6.
Australia and New Zealand Banking Group, Commerzbank AG, Rabobank International, Credit Suisse Group AG, DBS Bank, Emirates NBD PJSC, HSBC Holdings Plc, ING Groep NV, JPMorgan Chase & Co., Morgan Stanley, National Australia Bank, Natixis, Royal Bank of Scotland Group Plc, Standard Chartered Plc and UBS AG were the 15 banks originally hired to organize the loan, according to a May 27 company statement.
Documentation for the facility is expected to be signed in mid August, the first person said today.
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